NFR Northern Freegold Resources Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Northern Freegold Resources Ltd. (TSX VENTURE:NFR)(OTCQX:NFRGF)(FRANKFURT:8N6)
("Northern Freegold" or the "Company") is pleased to announce that subject to
TSX Venture Exchange acceptance, it has closed an expedited private placement of
10,000,000 units at $0.10 per unit for total gross proceeds of $1,000,000.


Each unit (the "Units") consists of one common share and one-half of one
non-transferable common share purchase warrant. Each whole warrant is
exercisable to acquire an additional common share at $0.14 for 48 months. In the
event that the Company's common shares trade at a twenty-day volume-weighted
average trading price ("VWAP") of $0.24 or greater on the TSX Venture Exchange
(or such other exchange on which the shares may be listed) at any time after
four months and one day after the Closing Date, the Company may accelerate the
expiry date of the Warrants by giving notice to the holders thereof and in such
case the Warrants will expire on the 30th day after the date on which such
notice is given by the Issuer. 


Northern Freegold intends to use the net proceeds from the sale on the Company's
Yukon mineral properties and for general working capital. 


All securities issued in connection with the private placement will be subject
to a four month hold period expiring on December 31, 2012. The private placement
remains subject to final acceptance by the TSX Venture Exchange. 


The Company will pay commissions and finders' fees of 7% cash and 7% broker
warrants in connection with the financing. The finder warrants will have the
same terms as the warrants forming part of the units.


About Northern Freegold 

Northern Freegold Resources Ltd. (TSX VENTURE:NFR)(OTCQX:NFRGF)(FRANKFURT:8N6)
trades in the United States on OTCQX under the symbol "NFRGF", and in Canada on
the TSX Venture Exchange under the symbol "NFR". Northern Freegold is a rapidly
advancing Canadian-based precious metals exploration and development company.
Northern Freegold brings wide-ranging expertise and strong management to focus
on the development of its district-scale FreegoldMountain gold and copper
project in the Yukon and the Burro Creek gold and silver property in Arizona.


On behalf of the Board of Directors 

John Burges, President and CEO

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